Why Hospices Need Insurance Coverage

Why Hospices Need Insurance Coverage

Business insurance for hospices

A hospice facility is an important part of end of life care for many families with elderly loved ones. The sense of safety and security that comes with such care is immeasurably valuable. What can be measured, though, are the costs a hospice facility can face due to accident or injury at the facility. Business insurance for hospices looks after a variety of dangerous scenarios involving both patients and employees.

Sometimes a facility needs to protect its workers, as is the case when exposure is possible while caring for patients. Many of the services offered at a hospice, such as pain management, equipment or medical assistance and psychological support, carry some risk to the provider. Hospice insurance has that covered.

Other aspects requiring business insurance for hospices come about when common activities go awry. This could be due to negligence, such as a fall or spill, or more malicious intent, such as billing fraud or abuse. Other scenarios requiring hospice insurance include errors of omission, data breaches and harassment.

Insurance for hospice facilities is an important investment that can prevent some of the financial loss associated with an accident or injury. Protecting its employees and patients should be a facility’s top goal, and insurance goes a long way toward promoting that.